Algorithmic cryptocurrency trading the revolution

There might be shenanigans behind these swings. Specialist media said two computer algorithms - Willy and Markus - were artificially inflating the price of bitcoin at the venue. That would be the same Mt. Gox exchange that collapsed amid claims that hundreds of thousands of bitcoins were lost to hackers. And don't forget about bitcoin being the choice currency to buy drugs.

US authorities seized some 50, bitcoins approx. The point is it's a bit of a rocky start for a system designed to shift trust from centralised authorities to technology. Still, that auction attracted a wide variety of interest - from individuals to tier one banks. It's why people say that if gold is the ultimate store of value then bitcoin is the ultimate medium of exchange.

Bitcoin isn't the only game in town though and there doesn't seem to be an end in sight to the proliferation of new coins - litecoin, dogecoin, altcoin, and so on.

The whole thing starts to look a bit frothy when, on his YouTube channel, Russell Brand is plugging financial commentator Max Keiser's eponymous coin. Are we witnessing a revolution? Though it could be the actual underlying block chain technology that will overthrow the old guard rather than any tradable bits derived from it.

US authorities seized some 50, bitcoins approx. The point is it's a bit of a rocky start for a system designed to shift trust from centralised authorities to technology. Still, that auction attracted a wide variety of interest - from individuals to tier one banks.

It's why people say that if gold is the ultimate store of value then bitcoin is the ultimate medium of exchange. Bitcoin isn't the only game in town though and there doesn't seem to be an end in sight to the proliferation of new coins - litecoin, dogecoin, altcoin, and so on.

The whole thing starts to look a bit frothy when, on his YouTube channel, Russell Brand is plugging financial commentator Max Keiser's eponymous coin. Are we witnessing a revolution? Though it could be the actual underlying block chain technology that will overthrow the old guard rather than any tradable bits derived from it. In fact, the way bitcoin has been adopted might be the least imaginative uptake of creator Satoshi Nakomoto's brilliant, elegant, eloquent nine-page research paper.

Peek Ahead highly recommends the read. At the great risk of oversimplifying, traditional structures can be overthrown in favour of consensus nodes that build and verify a global ledger conferring digital ownership. Those familiar with the Byzantine generals' problem will know there's some mental gymnastics involved. New players continue to emerge in this space too - Ripple Labs being one of the most exciting for proposing the next generation of decentralised networks.